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Standard Life Investments' Harry Nimmo said his buy-and-hold philosophy is the secret behind delivering top-quartile returns over the past two decades.

Facebook founder Mark Zuckerberg has said he will not sell any of his shares in the company for at least a year in a move to boost investor confidence, after shares in the social networking giant sank to a new low.

Billionaire investor George Soros has become one the biggest backers of Manchester United Football Club after buying a near 8% stake in its listed shares.

Shares in social networking giant Facebook have hit a new low, falling another 6% after the first lock-in period ended and its largest investors were able to sell the stock.

Facebook shares have fallen 15% after the company reported a drastic slowdown in revenue growth and failed to reassure investors on its ability to boost advertising growth.

Manchester United is set to float onto the New York Stock Exchange, seeking to raise $100m in an IPO.

Ahead of Facebook's $16bn IPO, Morgan Stanley, the lead underwriter on the deal, reduced its revenue forecasts for the social network, Reuters reports.

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